Living Trusts
Many people want to use a revocable living trust as their primary estate planning tool. Foley & Pearson has built a reputation as pre-eminent trust attorneys in Alaska. We have pioneered a simple but comprehensive process that helps our clients quickly and efficiently establish a trust-based estate plan.
A trust is a private contract that allows you to transfer control of your assets and wealth to others at the time of your death or disability. Bank accounts, property and assets that are titled in the name of the trust at the time of death do not pass through the court supervised probate process. Rather, you name trustees who will take control of the trust assets at the time of your disability or death, and manage and/or distribute the property and assets as you have directed in the trust document. The trust serves as a “super power of attorney” at the time of disability and acts like a “will substitute” at the time of death.
Frequently Asked Questions about Living Trusts:
- What is a living trust?
- What is a family trust?
- What are the benefits of a living trust based plan?
- What is meant by “funding” the trust?
- If I have a living trust, do I also need a will?
- What happens if my trust is not funded?
- Can I do my own trust funding?
- What happens to a trust after the trustmaker dies?
- Can I do the post-mortem trust administration without a lawyer?
- What is the best way to leave property to children?
